Baker McKenzie has advised Potentia Energy on its agreement with CVC DIF and Cbus Super to acquire control of a portfolio of more than 1 gigawatt (GW) of renewable assets across Australia.
The portfolio comprises diverse wind and solar assets, including interests in Bright Energy Investments in Western Australia (which owns Warradarge Wind Farm, Albany Grasmere Wind Farm and Greenough River Solar Farm), Royalla Solar Farm in ACT, Clare Solar Farm in Qld and Bungala Solar Farm in SA. The portfolio also includes a number of development stage projects. The newly acquired assets expand and complement Potentia Energy’s existing portfolio of solar and wind assets across the Wholesale Energy Market and National Electricity Market.
Potentia Energy (previously Enel Green Power Australia) is a joint venture entity co-owned by Enel Green Power and INPEX.
Lead Partner Raymond Lou, who co-leads the Energy Group in Australia, stated: “We are delighted to have been involved in this strategic transaction, which will make Potentia Energy one of the largest independent power producers in Australia. The transaction showcases continued foreign investment interest in energy transition across Australia, and we look forward to supporting our clients as they explore new opportunities for a greener Australia in 2025.”
Raymond Lou led the transaction together with partner Aylin Cunsolo, with the support of nearly 50 lawyers across three Baker McKenzie offices in Australia, including Tanya Denning, Sarah Merrett, Howard Fraser, Melanie Harwood, Greg Smith, Claire Newhouse, Samuel Allam, Rachel McNally, Macy Jong, Max Dowzer-Strode, Terisa Ientile, Stephanie Vessel, William Eefting, Fletcher O’Connor, Calvin White, Anita Nair and many others.
